Common Wellness Benefits Offered by Health Insurance Plans

Why Do Health Insurance Offer Wellness Benefits?

Several health insurance providers today offer wellness benefits as part of their health plans and incentivize policyholders who lead a healthy lifestyle. They actually reward people for prioritizing their health and maintaining a healthy lifestyle. As a result, they encourage policyholders to watch what they eat, when they sleep and how fit are they. 

In fact, the latest guidelines of the Insurance Regulatory & Developmental Authority of India (IRDAI) have also directed insurance companies to offer preventive health & wellness benefits under health insurance plans to promote fitness and healthy living. The regulatory body has allowed insurers to offer these wellness benefits as in-built covers as well as optional/ add-on covers.

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How Do Wellness Benefits Work in Health Insurance?

Typically, preventive health and wellness benefits are available in the form of wellness points or reward points under health insurance plans. The insurance company rewards the policyholder with points for staying fit, inculcating healthy habits and leading a healthy lifestyle. 

The policyholders can redeem these points to get a discount on the renewal premium, pharmacy bills, consultation fees, etc. They can also be redeemed to avail services offered by network hospitals and empanelled service providers.

The insurance companies clearly specify the various good health markers in the policy document for the policyholder’s reference. Once the policy period commences, they use digital devices and mobile applications to track these good health markers and monitor the progress of the insured.

The wellness points are rewarded at periodic intervals or at least once a year based on the policyholder’s progress, such as on achieving a pre-specified milestone. For example, some insurers reward wellness points if the insured completes a fixed number of steps every day. 

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Common Wellness Benefits Under Health Insurance

Check out some of the most common wellness benefits offered by health insurance providers in India:

1. Preventive Health Check-ups

   Several health insurance providers offer preventive health check-up facilities as part of their wellness benefits. Policyholders get their preventive health check-ups done regularly allowing them to monitor their health and detect any health condition or disease at an early stage. 

   Policyholders can get these check-ups done at any of their network service providers, which are available free of cost or at a discounted price.

   Know more about Preventive Health Check-ups

2. Discount on Healthcare Services

   Health and wellness points can be used to earn discounts on various healthcare expenses, such as OPD consultation or treatments, diagnostic tests, medicines, etc. These discounts can be availed at a network hospital or service provider of the insurance company. Moreover, they also offer redeemable vouchers that can be used to buy health supplements.

3. Personal Wellness Coach

   Most health insurance plans provide a personal wellness coach to policyholders as part of their wellness benefits. The coach acts like a personal mentor who helps policyholders to adopt a healthy lifestyle and suggests a personalized course to achieve various health goals. For instance, the coach can help the policyholder to follow a customized diet plan or exercise routine and suggest ways to maintain a good BMI and quit bad habits, such as smoking.

   The wellness coach sets a realistic target for the policyholder to make a lifestyle change. The redeemable wellness points are rewarded when the policyholder achieves the set target. 

4. Access to Health Maintenance Services

   Policyholders can also earn wellness points to earn a discount on health maintenance services. They can redeem these points to get a membership of various wellness centres, such as gyms, sports clubs, yoga centres, fitness centres, etc., at a discounted price. 

5. Discounts on Renewal Premium

   Health and wellness points can be used to reduce the renewal premium of the health insurance policy. If the wellness benefit is available as an add-on cover, these points can be used to earn a discount on its renewal amount. While some plans allow policyholders to reduce their premium for up to a fixed limit, others enable them to save up to 100% on the premium amount if they earn a certain number of points.

6. Second Medical Opinion

   Some health insurance plans also offer a second medical opinion to policyholders as part of health and wellness benefits. It enables policyholders to get a second opinion from a qualified medical professional for any critical disease or severe medical condition. The best part is that the policyholder does not have to pay for the consultation fees as it is taken care of by the insurance company.

Summing It Up

Preventive health and wellness benefits encourage policyholders to choose a healthy lifestyle. This is the prime reason why IRDAI has directed health insurance providers to offer various wellness benefits as part of their plans. So, make sure to check your policy document and go through the wellness benefits offered by your insurer. Do not forget to inculcate healthy habits and earn maximum points to make the most of them.